Budget 2020’-This decade is the key to India’s growth: President Kovind

Mangalore Today News Network

New Delhi, Jan 31, 2020: Indian economy is on a crucial juncture. It is in a situation where some great policy measures can pull it out of a slump and some bad decisions can push it down further. The government estimated that India’s GDP growth rate would be 5.1 per cent but some analysts have called it ‘optimistic’. Government has recently conceded that India’s GDP growth is going fall at an 11-year low of 5 per cent. This is not an ideal situation, Yahoo reported.

 

 

India’s trade deficit is also in a bad shape as exports have fallen for 5th month in a row. India’s merchant export contracted 1.8 per cent last month. The trade deficit also fell to $11.25 billion from a year-ago period. India’s imports also saw a decline at it was registered at 8.8 per cent, down to $38.61 billion. Most of the sectors are showing a downward trend.

Many experts have called Budget 2020-21 as the most important budget of the decade. The Economic Survey 2020-21 is going to present a clear picture of the country’s economic health and might give a sneak peek into the Budget 2020 to be presented on February 1 by Finance Minister Nirmala Sitharaman.